---
title: "Federal Reserve Governor Michelle Bowman reiterated that current interest rates are too high and that further cuts should be considered in the future"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/264511470.md"
description: "Federal Reserve Governor Michelle Bowman stated that despite the better-than-expected private sector employment data in October, current interest rates remain high, and further rate cuts should be considered in the future. She pointed out that the cooling labor market and slowing wage growth indicate that the existing rates may be too tight. Bowman's views could increase the likelihood of rate cuts within the year, affecting bond prices and the performance of technology stocks"
datetime: "2025-11-05T22:24:02.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/264511470.md)
  - [en](https://longbridge.com/en/news/264511470.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264511470.md)
---

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# Federal Reserve Governor Michelle Bowman reiterated that current interest rates are too high and that further cuts should be considered in the future

According to the Zhitong Finance APP, Federal Reserve Governor Milan stated on Wednesday that the October U.S. private sector employment data was "surprising," but he also emphasized that the current interest rate level remains relatively high and should consider further reductions in the future.

According to data released by the ADP Research Institute, the number of new jobs added by U.S. private enterprises in October was 42,000, while the data for the previous month was revised down by 29,000; the median expectation from media surveys was originally for an increase of 30,000, and the actual data was significantly better than expected.

In an interview, Milan stated that although the employment data has rebounded, the scale remains limited, wage growth continues to slow, and labor demand has clearly cooled, not as strong as during cyclical peaks. He believes these signs indicate that the current interest rate "may be more appropriate at a lower level than the existing level."

Milan has publicly called for further rate cuts multiple times recently and voted against the Fed's decision to only lower rates by 25 basis points in September and October this year, advocating for a 50 basis point cut, arguing that the current policy is insufficient. The Fed lowered rates by another 25 basis points last week to address the slowdown in the job market, but Chairman Powell stated at a press conference that a rate cut in December is "not yet determined" and reminded the market not to assume that further easing is a foregone conclusion. Meanwhile, several officials warned that if rate cuts are made too quickly, it could lead to a rebound in inflation.

In contrast, Milan's stance is more aggressive; he believes the current policy is "overly tight" and maintaining high interest rates poses "unnecessary risks." In his view, the continued cooling of the labor market makes further easing of policy reasonable, rather than maintaining a "inflation-fighting priority" stance.

In the market, Milan's remarks are seen as a signal that increases the probability of continued rate cuts within the year. If his views gain more support within the Fed, interest rate expectations will further adjust, which could push up bond prices and lower yields, while also supporting the performance of interest-sensitive assets such as technology stocks. However, excessive easing could also expand inflation risk exposure.

Although employment data has slightly rebounded, the overall growth rate is slowing, and wage cooling indicates that the U.S. labor market may be shifting from a "seller's market" to a "buyer's market." If this trend continues, the rationale for maintaining high interest rates will further decline, providing more arguments for Milan's advocacy

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